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Rishi Sunak has encouraged people to be “comfortable failing” when they start businesses during a conversation with billionaire Elon Musk.

The pair spent close to an hour talking at an event in central London where journalists were invited but not allowed to ask questions. Business leaders were given a chance to put questions to the duo.

They spoke about how to encourage people to start their own businesses. They also ranged onto topics like how to stop killer robots.

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Mr Sunak spoke about how, as prime minister, his job was to make the country start-up friendly, hinting at reforms that may be coming in the autumn statement – including on pensions.

The prime minister said Chancellor Jeremy Hunt has got a “bunch of incredible reforms to unlock capital from all the people who have it and deploy it into growth equity” – but they’re a work in progress.

Mr Sunak went on to say another challenge for encouraging start-ups was “how do you transpose that culture from places like Silicon Valley across the world where people are unafraid to give up the security of a regular pay cheque to go and start something, and be comfortable with failure.”

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He added: “You’ve got to be comfortable failing, and knowing that’s just part of the process. That’s a tricky cultural thing to do overnight, but it’s an important part of I think creating that kind of environment.”

Mr Musk – who is the world’s richest man – told Mr Sunak – who is estimated to be worth hundreds of millions of pounds – that someone’s first start-up failing “shouldn’t be a catastrophic, career-ending thing”.

The business leader said that, since starting a company is “high risk, high reward”, that people need incentives.

02/11/2023. London, United Kingdom. The Prime Minister Rishi Sunak talks to Elon Musk. 10 Downing Street. Picture by Simon Walker / No 10 Downing Street
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The pair did not take questions from journalists. Pic: No 10 Downing Street

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Mr Sunak said that he agrees, and said that relative to many European countries and California, the UK has much lower capital gains tax.

The event, which came after Mr Sunak’s two-day AI safety conference near Milton Keynes, saw the pair also speak about killer robots and other aspects of technology.

Mr Musk described artificial intelligence as “a magic genie” that grants you limitless wishes.

On robots, Mr Musk emphasised the need to have an off-switch – what some might call a kill-switch – for humanoid cyborgs.

“A humanoid robot can basically chase you anywhere,” he said, adding, “it’s something we should be quite concerned about. If a robot can follow you anywhere, what if they get a software update one day, and they’re not so friendly any more?”

Mr Sunak said “we’ve all watched” movies about robots that end with the machines being switched off.

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Labour’s shadow paymaster general Jonathan Ashworth said: “How out of touch is Rishi Sunak? After 13 years of the Tories, the public are enduring the worst cost of living crisis in memory and he is spending his time telling Elon Musk that he wishes they would give up their jobs and be ready to fail.

“He hasn’t got a clue.”

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Coinbase crypto lobby urges Congress to back major crypto bill

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Coinbase crypto lobby urges Congress to back major crypto bill

Coinbase crypto lobby urges Congress to back major crypto bill

US House lawmakers have been urged by 65 crypto organizations to pass the CLARITY Act, which would hand most policing of crypto to the CFTC.

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Reform UK poses ‘very serious threat’ to Labour, Welsh first minister warns

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Reform UK poses 'very serious threat' to Labour, Welsh first minister warns

The threat from Reform in Wales is “very serious”, the country’s Labour leader said as exclusive polling revealed Nigel Farage’s party is the first choice for Welsh voters.

Speaking to Beth Rigby on the Electoral Dysfunction podcast, Welsh First Minister Eluned Morgan said: “We think the threat from Reform is a very serious threat.

“I think it is important people recognise that things that we see every day in our lives in Wales may be snatched away from us, and the kind of stability that we’ve had for a long time.”

Eluned Morgan
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Eluned Morgan spoke to Beth Rigby on the Electoral Dysfunction podcast

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Ms Morgan admitted “we’ve got a lot of work to do to get voters back” ahead of the May 2026 Senedd (Welsh parliament) elections – something backed up by exclusive polling that reveals Reform is beating Welsh Labour, who have been in power in the Senedd since 1999.

A More in Common poll for Sky News found 28% of people in Wales would vote for Reform if an election for the Senedd was called tomorrow.

That was followed closely by nationalist party Plaid Cymru on 26%, Labour with 23%, the Conservatives on 10%, Lib Dems with 7%, the Green Party with 4% and 2% for other parties or independent candidates.

Eluned Morgan said she would never go into a coalition with Reform
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Eluned Morgan said she would never go into a coalition with Reform

Of those who voted for Labour at last year’s general election, less than half (48%) would vote for them again, while 15% would go to Plaid Cymru and 11% to Reform – although 13% were undecided.

A total of 883 people representative of the Welsh population were asked from 18 June to 3 July.

Last month, Mr Farage told an event in the steel town of Port Talbot, he would reopen Welsh coal mines to provide fuel for blast furnaces.

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Beth Rigby spoke to Welsh First Minister and Welsh Labour leader Eluned Morgan
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Beth Rigby spoke to Welsh First Minister and Welsh Labour leader Eluned Morgan

Ms Morgan said she will not be “chasing Reform down a path… because those aren’t my values”.

“What we’ll be doing is offering a very clear alternative, which is about bringing communities together,” she said.

“I think it’s really important that we’re authentic and we’re clear with people about what we stand for.

“I think we’ve got to lead with our values so we’re about bringing communities together not dividing them and I do think that’s what reform is interested in is dividing people and people do need to make choices on things like that.”

She admitted “there is a possibility” Reform could be the largest party in the Senedd “and that is really concerning”.

Nigel Farage
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Nigel Farage in Wales

However, she said the way voting in Wales works means it would be “difficult for them to rule by themselves”.

Would she go into coalition with Reform?

“I wouldn’t touch Reform with a barge pole,” she said.

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‘A threat to national security’: Fears drones could be used to lift inmates out of prisons

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Drones are sending 'overwhelming amounts' of drugs into prisons - and could help inmates escape, report warns

Sophisticated drones sending “overwhelming amounts” of drugs and weapons into prisons represent a threat to national security, according to an annual inspection report by the prisons watchdog.

HMP chief inspector of prisons Charlie Taylor has warned criminal gangs are targeting jails and making huge profits selling contraband to a “vulnerable and bored” prison population.

The watchdog boss reiterated his concerns about drones making regular deliveries to two Category A jails, HMP Long Lartin and HMP Manchester, which hold “the most dangerous men in the country”, including terrorists.

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Ex-convict: Prison is ‘birthing bigger criminals’

Mr Taylor said “the police and prison service have in effect ceded the airspace” above these two high-security prisons, which he said was compromising the “safety of staff, prisoners, and ultimately that of the public”.

“The possibility now whereby we’re seeing packages of up to 10kg brought in by serious organised crime means that in some prisons there is now a menu of drugs available,” he said. “Anything from steroids to cannabis, to things like spice and cocaine.”

“Drone technology is moving fast… there is a level of risk that’s posed by drones that I think is different from what we’ve seen in the past,” warned the chief inspector – who also said there’s a “theoretical risk” that a prisoner could escape by being carried out of a jail by a drone.

He urged the prison service to “get a grip” of the issue, stating: “We’d like to see the government, security services, coming together, using technology, using intelligence, so that this risk doesn’t materialise.”

The report highlights disrepair at prisons around the country
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The report highlights disrepair at prisons around the country

The report makes clear that physical security – such as netting, windows and CCTV – is “inadequate” in some jails, including Manchester, with “inexperienced staff” being “manipulated”.

Mr Taylor said there are “basic” measures which could help prevent the use of drones, such as mowing the lawn, “so we don’t get packages disguised as things like astro turf”.

Responding to the report, the Prison Advice and Care Trust (PACT) said: “The ready access to drugs is deeply worrying and is undermining efforts to create places of rehabilitation.”

Mr Taylor’s report found that overcrowding continues to be what he described as a “major issue”, with increasing levels of violence against staff and between prisoners, combined with a lack of purposeful activity.

Some 20% of adult men responding to prisoner surveys said they felt unsafe at the time of the inspection, increasing to 30% in the high security estate.

Andrea Coomber, chief executive of the Howard League for Penal Reform, said: “This report is a checklist for all the reasons the government must prioritise reducing prison numbers, urgently.

“Sentencing reform is essential, and sensible steps to reduce the prison population would save lives.”

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May: Male prison capacity running at 99%

The report comes after the government pledged to accept most of the recommendations proposed in the independent review of sentencing policy, with the aim of freeing up around 9,500 spaces.

Those measures won’t come into effect until spring 2026.

Prisons Minister Lord Timpson said Mr Taylor’s findings show “the scale of the crisis” the government “inherited”, with “prisons dangerously full, rife with drugs and violence”.

He said: “After just 500 prison places added in 14 years, we’re building 14,000 extra – with 2,400 already delivered – and reforming sentencing to ensure we never run out of space again.

“We’re also investing £40m to bolster security, alongside stepping up cooperation with police to combat drones and stop the contraband which fuels violence behind bars.”

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